Gibraltar minister allays Brexit fears
Albert Isola says it's "business as usual" with operators committed to their Gibraltar operations
Gibraltar’s gaming minister has quashed speculation operators could leave the peninsular following the UK’s Brexit vote, claiming firms remain “strongly committed” to their Gibraltar operations.
In a statement, Albert Isola revealed he had recently spoken with every operator based in Gibraltar to ensure them of the Gibraltarian government’s support for the industry in the “short, medium and long term”.
Isola said he expected there to be “little or no change” to current border arrangements, while adding a number of operators had said they intended to press ahead with plans to expand their Gibraltar operations.
“In the past week, various operators have confirmed their intention to continue with their expansion plans in Gibraltar including increasing or leasing new office space in Gibraltar, relocating parts of their existing business from other jurisdictions to Gibraltar, and ensuring recruitment continues apace,” Isola said.
While reaffirming the government’s ‘remain’ position, Isola believed any move away from the EU would provide “new and different opportunities” while the current Gambling Act Review would be expanded to ensure its regulatory, tax and licensing regimes remained “fit for purpose”.
Isola’s words were welcomed by the Gibraltar Betting and Gaming Association (GBGA), which has been working closely with the minister.
In a statement the GBGA said locally licensed regimes throughout Europe meant an exit from the EU would have “minimal impact” on its members, while during a time of political uncertainty it was important to be based in a territory which supported the industry.
“We have a very supportive government and regulators,” the GBGA statement read. “We have access to a wealth of human talent and experience in online betting and gaming.
“The UK and EU political crisis makes us keenly aware why Gibraltar remains a great place to do European and international trade.
“Gibraltar is an internationally recognised success story and we intend to keep it that way.”
The assurances come after it was revealed William Hill had put in place “continuity plans” should staffers living in Spain run into difficulty crossing the border.